TCS reports USD1bn Q3 net profit


Strong digital demand buoyed Tata Consultancy Services (TCS)’s net profit for Q3 ending 31 December to USD1bn. TCS, India’s largest IT service provider, announced year-on-year revenue growth of 5.8% to USD4.38bn during the reported period. Operating income was USD1.14bn and quarterly net profit reached USD1bn. Digital revenues stood at 16.8%, up 30% year-on-year. The company also announced the appointment of Rajesh Gopinathan to the role of CEO and managing director of TCS, effective 21 February. He takes over from N Chandrasekaran, who has been appointed chairman of Tata Sons. Gopinathan said TCS has shown great discipline and control at all levels to deliver another credible quarter. TCS also operates centers in the Philippines.